SSY Calculator: The Sukanya Samriddhi Yojana (SSY) Calculator helps you estimate the maturity value of your investments in this government-backed savings scheme for girl children. It calculates:
✅ Yearly/Quarterly Contributions
✅ Current Interest Rate (2024: 8.2%)
✅ Projected Maturity Value
SSY is a tax-free, high-return scheme under the Beti Bachao Beti Padhao initiative.
How SSY Returns are Calculated
SSY Maturity Formula (Compounded Annually):
A=P×(1+r)n−1r×(1+r)
A = Maturity Amount
P = Annual Investment
r = Annual Interest Rate (8.2% in 2024)
n = Investment Tenure (Max 15 years)
Example Calculation:
Yearly Deposit (P): ₹50,000
Tenure (n): 15 years
Interest Rate (r): 8.2%
Step 1: Apply SSY formula
A=50,000×(1+0.082)15−10.082×(1+0.082)≈∗∗₹15,68,864∗∗
Total Invested Amount:
₹50,000×15=∗∗₹7,50,000∗∗
Interest Earned:
₹15,68,864−₹7,50,000=∗∗₹8,18,864∗∗
Key Benefits of SSY Scheme
✅ High Interest Rate (8.2% in 2024) – Better than FDs & RDs
✅ Tax-Free Returns – Exempt under Section 80C (₹1.5L deduction)
✅ Government-Backed – Zero risk, sovereign guarantee
✅ Long Tenure (21 years total) – Ensures corpus growth
✅ Partial Withdrawal at 18 – Up to 50% for education/marriage
SSY vs Other Child Savings Plans
| Feature | SSY | PPF | Mutual Funds | Child FD |
|---|---|---|---|---|
| Interest Rate | 8.2% (2024) | 7.1% | 10-15% (variable) | 6-7% |
| Tax Benefit | 80C + Tax-Free | 80C | LTCG Tax | Taxable |
| Lock-in Period | 21 years | 15 years | None | 1-10 years |
| Risk | Risk-Free | Risk-Free | Market-Linked | Low Risk |
Who Can Open an SSY Account?
Parents/Guardians of a girl child below 10 years
Maximum 2 accounts per family (exception for twins/triplets)
NRIs not eligible
FAQs on SSY Calculator
1. What is the minimum deposit for SSY?
₹250/year (max ₹1.5L/year for tax benefits).
2. Can I extend SSY beyond 21 years?
No, maturity is fixed at 21 years from opening.
3. Is SSY interest taxable?
No, fully tax-free under Section 10(11A).
4. What if I miss a yearly payment?
Account remains active but ₹50/year penalty applies.
5. Can I transfer SSY account to another post office/bank?
Yes, free transfers allowed nationwide.
Try Our Free SSY Calculator
Plan your daughter’s future with our SSY Calculator:
📌 Check maturity for different investment amounts
📌 Compare with other child plans
📌 Maximize tax-free returns
Calculate Now & Secure Her Future!
Key Takeaways
₹1.5L/year tax deduction under 80C
8.2% guaranteed returns (2024)
Partial withdrawal allowed after girl turns 18
Use calculator before investing